Share repurchase program

SinnerSchrader’s Annual General Meeting of 29 January 2014 authorised the Management Board and the Supervisory Board to repurchase SinnerSchrader shares. The authorisation is valid until 17 December 2018.

On 11 February 2016, the Management Board and Supervisory Board of SinnerSchrader AG resolved to make use of this authorisation and to purchase treasury stock from the market. The resolution was announced on 11 February 2016 as Ad-Hoc News. The programme started on 12 February 2016. It is limited in time until 31 August 2016 and to a volume of 0.7 million Euro.

The share repurchase serves the purposes authorised by the Annual General Meeting and therefore all of those permissible under Article 71 para. 1 No. 8 of the German Stock Corporation Act (“Aktiengesetz”). Under the terms of this repurchase of treasury stock, the purchase price per share (excluding ancillary purchasing costs) may not be more than 10 per cent above or below the average closing price on the Xetra system on the five trading days prior to the purchase. A bank was instructed to execute the purchase. The bank was bound to act in accordance with the trading conditions stipulated in Article 5 of Regulation (EC) No. 2273/2003 issued by the Commission on 22 December 2003. The total number of shares repurchased must not exceed 10 per cent of the common stock issued.

SinnerSchrader will provide information about the volume of the repurchases that were transacted, indicating the purchase dates, the number of shares, and the prices at which the repurchases were made, in the following table:

The Company will also report on the repurchase programme as part of its regular financial reporting as well as at the next Annual General Meeting. The total number of shares of treasury stock that SinnerSchrader held as of the quarterly balance sheet dates can be found here.

Information on previous repurchase transactions can be found in the following tables: